BitMine Immersion Amasses $6.6B Ethereum Hoard, Tops Corporate Holders

BitMine Immersion Technologies said its Ethereum trove has swelled to roughly 1.52 million tokens worth about $6.6 billion after the company added 373,000 ETH—valued at roughly $1.7 billion—during the past week. The latest purchases, disclosed on 18 August, lift the mining and digital-asset firm’s stake to close to 1% of the cryptocurrency’s circulating supply.

The Las Vegas-based company now ranks as the world’s largest corporate holder of Ethereum and the second-largest digital-asset treasury overall, behind MicroStrategy’s Bitcoin haul. Chairman Thomas Lee said BitMine aims to raise further capital to acquire as much as 5% of all ETH in circulation, extending a treasury strategy launched at the end of June.

BitMine’s accumulation spree has drawn backing from institutional investors including ARK Invest, Founders Fund and Pantera Capital. Trading in BMNR shares has surged alongside the buying program: five-day average turnover stands at about $6.4 billion, making the stock the tenth most-liquid in the US equity market, according to Fundstrat.

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